The 1937 process of selecting inductees to the Baseball Hall of Fame was markedly different from the initial elections the previous year. As only half of the initial goal of 10 inductees had been selected in 1936, members of the Baseball Writers' Association of America (BBWAA) were once again given authority to select any players active in the 20th century; but the unsuccessful 1936 Veterans Committee election for 19th-century players led to a smaller Centennial Commission choosing a handful of inductees whose contributions were largely as non-players.

The first elections to select inductees to the Baseball Hall of Fame were held in 1936. Members of the Baseball Writers' Association of America (BBWAA) were given authority to select individuals from the 20th century; while a special Veterans Committee, made up of individuals with greater familiarity with the 19th century game, was polled to select deserving individuals from that era. The intent was for 15 honorees to be selected before the 1939 ceremonies – 10 from the 20th century and 5 from the 19th; additional players from both eras would be selected in later years. Voters were given free rein to decide for themselves in which group a candidate belonged, with neither group knowing the outcome of the other election; some candidates had their vote split between the elections as a result – Cy Young, the pitcher with most wins in Major League history, finished 8th in the BBWAA vote and 4th in the Veterans vote. In addition, there was no prohibition on voting for active players, a number of whom received votes. Individuals who had been banned from baseball – such as Shoeless Joe Jackson and Hal Chase – were also not formally excluded, though few voters chose to include them on ballots.